Chemours Publishes 2023 Sustainability Report

Rhea-AI Summary

Chemours has released the seventh edition of its annual Sustainability Report, detailing progress on its 2030 Corporate Responsibility Commitment (CRC) goals. The report, titled 'Partnering for Progress,' highlights significant achievements in environmental stewardship, such as a 52% reduction in greenhouse gas emissions since 2018, aiming for a 60% reduction by 2030. The company also reported a 59% decrease in fluorinated organic chemical emissions and surpassed its Sustainable Supply Chain goal with 81% of suppliers assessed for sustainability performance.

Key initiatives include a $3 million investment in the Center for Clean Hydrogen and the expansion of the ChemFEST middle school STEM program in the U.S. and Belgium. Chemours has earned Great Place to Work® Certification in 15 global regions, covering over 92% of its workforce.

Positive

• 52% reduction in greenhouse gas emissions since 2018, targeting 60% by 2030.
• 59% reduction in fluorinated organic chemical emissions to air and water since 2018.
• 81% of suppliers assessed for sustainability performance, with 24% showing improvement.
• 85% of supplier partners scored above the average threshold in EcoVadis ratings.
• $3 million investment in the Center for Clean Hydrogen.
• Expanded ChemFEST middle school STEM program at five sites in the U.S. and Belgium.
• Great Place to Work® Certification in 15 global regions, covering 92% of the workforce.

Negative

• The company still aims to achieve a 99% reduction in fluorinated organic chemical emissions, indicating ongoing challenges.
• The report does not provide concrete data on financial performance, which may be a concern for some investors.

The report showcases how Chemours’ partnerships help drive environmental stewardship and social responsibility

WILMINGTON, Del.--(BUSINESS WIRE)-- The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company, today announced the seventh edition of its annual Sustainability Report, outlining the Company’s progress toward meeting its 2030 Corporate Responsibility Commitment (CRC) goals. The report titled “Partnering for Progress,” showcases how Chemours embraces partnerships to deliver innovative products responsibly and more sustainably, share its success with others, and drive business value.

Chemours' seventh edition of its annual Sustainability Report, outlines the Company’s progress toward meeting its 2030 Corporate Responsibility Commitment goals. The report titled “Partnering for Progress,” showcases how Chemours embraces partnerships to deliver innovative products responsibly and more sustainably, share its success with others, and drive business value. (Graphic: Business Wire)

“Chemours’ commitment to sustainability and our values is unwavering. We’ve made significant progress against our Corporate Responsibility Commitment goals, prioritizing actions that improve how people live, power modern progress, and protect our planet for future generations,” said Denise Dignam, President and CEO of Chemours. “We are focused on priorities that matter to our company, customers, and stakeholders, and we fully integrate sustainability into our business decisions and actions across our organization.”

Chemours organizes its sustainability strategy and CRC goals around four pillars: Environmental Leadership, Innovation & Sustainable Solutions, Community Impact, and Greatest Place to Work for All. Inspired by the Company’s vision, these pillars guide the daily actions and decisions of its employees, from operations and product innovation to stakeholder and community engagement.

“The modern world continues to progress faster each year, and that brings both societal challenges and opportunities for creating a more sustainable world,” said Dr. Amber Wellman, Chief Sustainability Officer of Chemours. “Climate change, nature loss, social inequality, and public health are some of the most pressing issues of our time, and they require bold, collaborative action across society. At Chemours, we believe in the power of partnerships to find the best solutions to the biggest challenges and the opportunities they offer to accelerate progress. By working together, and through the unique capabilities of our chemistry, we help enable important applications that deliver on societal goals, such as transitioning to clean energy, driving innovation in low global warming potential thermal management solutions, advancing electronics and electrifying transportation, progressing a greener and more inclusive future, and helping improve lives everywhere.”

Chemours’ 2023 Sustainability Report highlights include:

• Achieved a 52% reduction in operational greenhouse gas (GHG) emissions since 2018—on track for a 60% reduction by 2030.
• Reached a 59% reduction in total process fluorinated organic chemical (FOC) emissions to air and water since 2018—on our way to a 99% or more reduction by 2030.
• Met and surpassed our Sustainable Supply Chain goal, assessing the sustainability performance of 81% of suppliers by spend, with 24% demonstrating improvement in sustainability performance. Additionally, 85% of Chemours’ supplier partners scored above the average threshold of all companies rated by EcoVadis.
• Developed a framework with the Wildlife Habitat Council to conduct a nature assessment and implement a corporate-wide, nature-based initiative in 2024.
• Invested $3 million in the Center for Clean Hydrogen as part of the Clean Hydrogen Partnership, which will work to solve the challenges of creating low-cost clean hydrogen and efficient hydrogen energy conversion.
• Expanded ChemFEST, our middle school STEM education partnership program, at five sites in the U.S. and Belgium.
• Earned Great Place to Work® Certification in 15 global regions, covering more than 92% of Chemours’ global workforce.

Strong partnerships are essential to making progress. Learn more about how Chemours’ partners are helping strengthen environmental stewardship and social responsibility in the 2023 Sustainability Report.

About The Chemours Company

The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The Company has approximately 6,200 employees and 28 manufacturing sites, and serves approximately 2,700 customers in approximately 110 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on X (formerly Twitter) @Chemours or on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, our progress against our Corporate Responsibility Commitment goals and our expected positive impact on societal goals, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions, geopolitical conditions and global health events and weather events, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611034340/en/

INVESTORS

Brandon Ontjes

Vice President, Investor Relations

+1.302.773.3300

investor@chemours.com

Kurt Bonner,

Manager, Investor Relations

+1.302.773.0026

investor@chemours.com

NEWS MEDIA

Cassie Olszewski

Corporate Media & Brand Reputation Leader

+1.302.219.7140

media@chemours.com

Source: The Chemours Company

FAQ

What is the title of Chemours' 2023 Sustainability Report?

The title of Chemours' 2023 Sustainability Report is 'Partnering for Progress.'

What stock symbol does Chemours trade under?

Chemours trades under the stock symbol 'CC.'

How much has Chemours reduced its greenhouse gas emissions since 2018?

Chemours has reduced its greenhouse gas emissions by 52% since 2018.

What is Chemours' target for reducing greenhouse gas emissions by 2030?

Chemours aims to achieve a 60% reduction in greenhouse gas emissions by 2030.

How has Chemours performed in terms of reducing fluorinated organic chemical emissions?

Chemours has achieved a 59% reduction in fluorinated organic chemical emissions to air and water since 2018.

What percentage of Chemours' suppliers have been assessed for sustainability performance?

81% of Chemours' suppliers have been assessed for sustainability performance.

What recent investments has Chemours made in clean energy?

Chemours has invested $3 million in the Center for Clean Hydrogen.

In which regions has Chemours earned the Great Place to Work® Certification?

Chemours has earned the Great Place to Work® Certification in 15 global regions.

What educational program has Chemours expanded recently?

Chemours has expanded the ChemFEST middle school STEM program at five sites in the U.S. and Belgium.